Global Stocks Up on Strong US Jobs Data

KEEPING SCORE: France's CAC 40 gained 1.2 percent in early trading to 4,240.56, while Germany's DAX was up 1.4 percent at 9,766.67. Britain's FTSE 100 added 0.7 percent to 6,634.28. U.S. shares were set to drift higher with Dow futures adding nearly 0.5 percent at 18,125. S&P 500 futures were up 0.4 percent at 2,129.60.

More Recommended for You

Recommended for You

ASIA'S DAY: Japan's benchmark Nikkei 225 surged 4.0 percent to finish at 15,708.82, following a weekend election that landed the ruling coalition a resounding victory, ensuring stability and more stimulus spending. South Korea's Kospi gained 1.3 percent to 1,988.54. Hong Kong's Hang Seng rose 1.5 percent to 20,872.56, while the Shanghai Composite was up 0.2 percent at 2,994.92. Other Asian markets were also higher.

U.S. JOBS: Markets were cheered by a strong June job report out of the U.S. that sent Wall Street to nearly record highs. The Labor Department said U.S. employers added 287,000 jobs last month. That was far more than analysts expected, and after weak reports from April and May, it suggests the economy and job market haven't run out of steam. A strong American economy is a boon to Asia, which relies on exports.

THE QUOTE: "While the US equity market response is encouraging, it is important not to factor too much into one single monthly report, as more data is needed to confirm that the dismal May jobs report was an aberration," warned Stephen Innes, senior trader at OANDA Asia Pacific.

ENERGY: Benchmark U.S. crude sank 43 cents to $44.98 a barrel in New York. It added 27 cents to $45.41 a barrel Friday. Brent crude, a standard for international oil prices, lost 39 cents to $46.37 a barrel in London.

CURRENCIES: The dollar rose to 101.94 yen from 100.58 yen late last week in Asia. The euro slipped to $1.1027 from $1.1080.

(KA)

Related Content

Recommended for You

Contact Us

About DTN

DTN is the independent, trusted source of actionable insights for two million customers worldwide focused on feeding, fueling and protecting the world. Customer-centric and colleague-driven, DTN focuses on empowering customers with decision-support solutions in agriculture, energy, commodity and financial analytics, and weather-sensitive industries through continuous, leading-edge innovation. DTN also produces the leading agriculture publication, The Progressive Farmer.

Join the community! Registration is FREE. As a member of the DTNPF online community you can contribute to discussions, save your settings, get exclusive email alerts and access to special online sections, and read e-newsletters.

Please correct the following errors and try again:

First Name*

Last Name*

Postal Code*

e.g. 68114 (US) or Y0B 1G0 (Canada)

Phone Number*

e.g., 402-390-2328

Email Address*

Confirm Email Address*

Password*

8-32 characters, include one number (0-9) and one letter (a-z)

Confirm Password*

I agree to receive information from DTN/The Progressive Farmer containing news, updates and promotions regarding DTN/The Progressive Farmer's products. I understand I can withdraw my consent at any time.